Blockchain technology has developed tremendously as the world becomes increasingly digitalised. Today, in addition to recording and transmitting currencies, blockchains are also used for other assets such as digital collectibles, showing blockchains’ growing potential in digital asset ownership. This study adopts content analysis of the state-of-the-art literature as well as a case-study approach to analyse the unique potential and challenges of blockchains to digital asset ownership. A major potential according to the findings is the opportunity to monetise and unlock newer digital assets. Under-developed intellectual property laws and regulations remain a key challenge. Discussions and recommendations are presented along with real-world cases.